For decades, sure. Banks and ancillary industries, such as insurance and the real estate industry, itself, animated the borough’s commercial property. The acronym FIRE — finance, insurance and real estate — became literal shorthand to describe where most office leasing activity came from in Manhattan.
That’s changing. Now, it’s technology companies driving the leasing market in a way never seen before. They and companies in related industries, such as advertising, marketing and information services — or TAMI — account for most of Manhattan’s leasing momentum coming out of COVID and for many of its biggest deals during the pandemic.
Photo by Christina on Unsplash